You’re prepared to start your funding journey, however it could really feel overwhelming to decide on the appropriate platform with so many choices on the market. We get it—and we’ve acquired you coated.
Robinhood and Public.com are two of the most important names within the sport. How do you determine which one is best for you? We at all times suggest studying about funding platforms earlier than you employ them.
On this Public vs Robinhood overview, we’ll reveal what makes these two platforms comparable, in addition to what makes every distinctive. We’ve included details about options, the person expertise, charges and prices, and our tackle which sort of investor every platform is finest fitted to.
By the point you’ve completed studying, you’ll have a deal with on how Public and Robinhood evaluate and which platform it’s best to use to start out investing.
Overview of Robinhood and Public.com
Let’s begin with an outline of every platform to offer you a stable base of understanding of what every has to supply.
Robinhood
Robinhood is a mobile-first digital buying and selling platform that acquired its begin again in 2013, when Vladimir Tenev and Baiju Bhatt integrated as Robinhood Markets, Inc. Their purpose was to democratize investing by making it free, simple, and addictive. They launched the Robinhood app in March of 2015. The corporate is a licensed broker-dealer and a member of the Securities Investor Safety Company, SIPC.
In its early years, a lot of the corporate’s development was achieved by buying firms resembling Say Applied sciences, Cove Markets, X1, and Chartr.
They’ve additionally grown by frequently providing new merchandise. Once they first introduced the addition of cryptocurrency to their listing of obtainable property in 2018, that they had a ready listing with two million members, and had a similarly-long listing 4 years later after they launched their crypto buying and selling pockets.
Key options of Robinhood embody buying and selling shares, ETFs, and cryptocurrencies; a safe crypto pockets; and a easy and intuitive person interface.
Public
Public.com is an investing platform designed to make market investing accessible to all individuals. The corporate acquired its begin in 2019 and have become the primary to permit for commission-free fractional share investing, one thing that many different platforms, together with Robinhood, have since adopted. (Fractional shares aren’t new and Public.com didn’t invent them, they only democratized them.)
Public is a licensed broker-dealer and a Monetary Trade Regulatory Authority, FINRA member.
One of many issues that makes Public distinctive is the neighborhood side of their app. Whereas there are different funding instruments which have a social side, of which Searching for Alpha is an instance, Public was the primary investing app to introduce that factor.
Different key options embody entry to a wide range of funding property, prolonged buying and selling hours, crypto buying and selling, fractional buying and selling, clear charges, and no charges for order stream on shares and ETFs.
Professional Tip:
Join with Robinhood at this time! You possibly can refer buddies to earn as much as $1500 per yr in FREE STOCK!
As of 2024, Public.com has greater than three million customers (up from lower than a million on the finish of 2020) and an estimated worth of $1.2 billion.
| Robinhood | Public.com | |
| Asset lessons obtainable | Shares, ETFs, chosen cryptocurrencies, ADRs | Shares, ETFs, bonds, choices, cryptocurrencies and treasuries |
| Fee on trades? | No | No |
| Allowable trades | Market orders, restrict orders, cease orders, cease restrict orders, trailing cease orders | Market orders, restrict orders, cease orders |
| Academic sources | Articles and movies | Articles, screeners, and an funding calculator |
| Charges | No commissions; charges could apply for different transactions | No commissions; charges could apply for different transactions |
| Customer support | 24/7 chat help; telephone help throughout enterprise hours | Reside chat, telephone, and electronic mail |
We’ll get into extra element in regards to the charges charged by Robinhood and Public later on this overview.
Public vs Robinhood – Options Comparability
Let’s do a deeper dive on a very powerful options of Public and Robinhood.
Buying and selling Expertise
The buying and selling expertise on Robinhood is supposed to be user-friendly and easy, and it delivers on each counts. Utilizing the Robinhood app or internet platform, it’s simple to provoke trades. In truth, a commerce could also be accomplished in just some minutes and with a number of clicks, even for lively merchants trying to conduct choices buying and selling.
The cellular buying and selling expertise on Public.com can also be easy and user-friendly. Trades and gross sales could take lower than a minute to finish. It’s additionally simple to fund your account and withdraw funds to your financial institution.
When it comes to buying and selling expertise, we’d say it’s a tie. Each platforms are simple to make use of and ultimate for novices.
Professional Tip:
Join with Robinhood at this time! You possibly can refer buddies to earn as much as $1500 per yr in FREE STOCK!
Funding Choices
Robinhood provides a number of varieties of funding choices. It acquired its begin by permitting funding in simply two asset lessons: shares and exchange-traded funds (ETFs). It has since expanded to permit for funding in 20 cryptocurrencies, together with Bitcoin, Ethereum, Dogecoin, and USDC. At the moment, it’s not potential to commerce bonds or mutual funds on Robinhood, and that may pose a problem in relation to portfolio diversification.
There’s additionally an choice to arrange an IRA with Robinhood and get matching funds: 1% for normal members and three% for Robinhood Gold members.
On Public.com, customers can commerce shares, ETFs, choices, cryptocurrencies, American Depositary Receipts, fractional shares, and bonds. The inclusion of bonds is beneficial as a result of it’s simple to diversify your portfolio. In whole, Public.com permits for buying and selling of 16 crypto cash via Bakkt Crypto. (It’s vital to notice that Bakkt Crypto shouldn’t be affiliated with Public.com and never a FINRA member.)
Public com doesn’t have a retirement account, however they do supply a high-yield financial savings account that pays 4% APR, in addition to a high-yield bond account that pays 6.8%.
Charges and Prices
Each Public and Robinhood trades are topic to regulatory charges, and people charges are handed on to you as a person. Right here’s a rundown of the opposite charges that will apply.
Robinhood prices $0.50 as an index choices buying and selling payment totally free members, and $0.35 for Robinhood Gold members. ACH transfers are free, however there’s a $25 payment for outgoing wire transfers. There’s a full slate of regulatory charges, most of that are simply fractions of a penny. You could find the complete payment desk right here.
Public prices a flat payment of $2.99 for trades made throughout prolonged market hours and for OTC trades, not nice for extra lively merchants. It additionally prices for multi-asset funding plan trades, which price between $0.49 and $1.99 totally free customers. There’s a $75 payment to switch your property to a different dealer, and there might also be charges concerned if you wish to switch cash to your financial institution through wire. Take a look at their full payment schedule right here.
Each platforms have a premium choice. Robinhood Gold prices $5 per 30 days or $50 per yr, whereas Public Premium prices $10 per 30 days or $96 per yr. Each plans supply customers the prospect to save cash on charges and entry further options.
Professional Tip:
Join with Robinhood at this time! You possibly can refer buddies to earn as much as $1500 per yr in FREE STOCK!
Cell App Usability
Robinhood’s cellular app is well-reviewed and in style. The interface is designed to be really easy to make use of that novices can bounce in and begin buying and selling instantly. It’s acquired a easy and easy-to-navigate menu. You may get assist throughout the app while you want it, and you can even entry Robinhood’s instructional sources to be taught extra about buying and selling earlier than you bounce in.
Public’s app is likewise effectively regarded and simple to make use of. Trades might be positioned with just some faucets and it’s simple to entry assist and sources. Learners can begin buying and selling straight away and so they can even study investing on the app.
The 2 apps have almost an identical star rankings. Within the Google Retailer, Robinhood’s app will get 4.2 stars out of 5, and Public’s app will get 4.1 stars.
Who Ought to Use Public vs Robinhood?
In the event you’re somebody who desires a brief listing of investments which might be simple to grasp, and an app that’s beginner-friendly, then Robinhood could also be your best choice. You gained’t get entry to bonds and another asset lessons, however you’ll get entry to a wide selection of shares, ETFs, and cryptocurrencies.
We might additionally suggest Robinhood for anyone who doesn’t have an employer-sponsored retirement account. Robinhood provides 1% matching totally free members and three% for Robinhood Gold members.
Public.com provides a wider array of asset lessons for investments, together with bonds and choices. It’s nonetheless a superb platform for novices, however may be barely extra advantageous for intermediate to superior buyers.
We just like the social and neighborhood side of Public, too. In the event you’re somebody who likes to swap concepts with different buyers, then Public has the sting in that regard, along with each platforms having superior analysis instruments.
Since each apps are free to make use of, it could be advantageous to arrange accounts on each and see which one you like.
Public vs Robinhood – Consumer Expertise Comparability
Robinhood customers have loads of good issues to say in regards to the person interface and the general expertise of utilizing the app. Individuals additionally reward the IRA contribution matching, low margin charges, and money sweep. Among the complaints embody gradual customer support response occasions for requests submitted via the app and the dearth of detailed funding monitoring options. Most opinions remark that the app is finest suited to novices.
One of many issues that stood out as we learn Public.com opinions is that the staff there’s consistently working to enhance the app. They’re attentive to opinions. Customers have praised the app’s simple navigation and deposit mechanism, which permits customers to deposit funds utilizing a debit card and withdraw again to the cardboard, too. One of the crucial widespread complaints is that extra options are being paywalled, resembling extra superior analysis instruments. One other is the dearth of superior charting choices.
Total, we’d say the Robinhood UX is good for novices whereas Public is barely extra complicated and provides extra choices for superior customers.
Conclusion
The underside line when evaluating Public vs Robinhood is that each apps supply a streamlined person expertise. We’d say that Robinhood is finest fitted to newbie buyers or those that wish to reap the benefits of IRA matching contributions, whereas Public has a number of extra bells and whistles that will attraction to extra skilled buyers.
Neither platform is de facto fitted to in-depth funding analysis and charting, so you could have to improve to premium or to make use of these apps together with an funding analysis platform to get the very best outcomes.
FAQ
We expect Robinhood has a slight edge over Public com when it comes to usability for novices. In the event you’re somebody who doesn’t have quite a bit (or any) funding expertise, we predict beginning with Robinhood can be helpful.
Sure, Public.com provides a complete of 16 cryptocurrencies via its partnership with Bakkt Crypto. In the event you’re somebody who desires to check out crypto investing, you are able to do it with Public.com
